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STRONG SALES AT ALTOLIVA BY MBK HOMES

SANTA CLARITA, CA - April 28, 2004- Sales have been strong at MBK Homes popular new neighborhood of Altoliva in the Santa Clarita Valley's newest private master-planned community of Tesoro del Valle. Situated in its own gated environment, Altoliva homeowners will have a private pool and spa for their own use.
Within a special setting in the hills above Valencia, Altoliva overlooks the surrounding hillsides and valley below. With 125 single family detached homes in all, Altoliva offers up to four bedrooms, two and one-half baths, approximately 1,821 to 2,298 square feet. In keeping with the community of Tesoro del Valle's Old California character, Altoliva's classically designed Monterey, Tuscan and Spanish architecture adds the flavor and style of a romantic era. Prices begin in the low $400,000s.

"Altoliva has experienced strong sales over the past several months," said Keely Meyer, Altoliva Neighborhood Sales Manager. "Buyers are realizing that in addition to getting a well designed home at Altoliva, they will have many other benefits within the greater community, plus a wonderful neighborhood pool and spa where they can socialize and relax."
The master-planned community of Tesoro del Valle in the Santa Clarita Valley is conceived in the spirit of Old California. This nostalgic community blends the essence of its fabled history with its breathtaking views of the surrounding rolling hills and the valley below. Residents will have an opportunity to enjoy an array of community amenities, like the Tesoro del Valle Recreation Center, an Olympic-sized lap pool, resort pool and spa, tennis courts, sand volleyball court, a proposed on-site elementary school, hiking and equestrian trails, and proposed community athletic fields.
MBK has established a Very Important Buyer (VIB) Registry, an exclusive priority registry for serious buyers at Altoliva. The VIB Registry is designed to ensure a fair and more streamlined sales process by eliminating stress-inducing campouts and lotteries. Learning more about the program or becoming a member is an easy process via the company's website at www.mbkhomes.com.

With its keen attention to detail, MBK Homes Ltd. is dedicated to delivering superior craftsmanship in every home it builds. Strengthened by the reputation and financial stability of its parent company Mitsui & Co., Ltd., MBK Homes is committed to providing its customers with the best value their homebuying dollar can buy and to building homes to last a lifetime.
MBK Homes continues to expand its homebuilding activities in some of Southern California's most desirable locations. Current MBK neighborhoods include: Serrano in Rancho Cucamonga, San Abella at Westridge Valencia and Aldergate in Ontario. MBK Homes is planning neighborhoods at Briar Rose in Ladera Ranch, Radcliffe at Amerige Heights in Fullerton, Somervale in Rancho Cucamonga and Florentia in Inglewood.
For more information on Altoliva or any of these neighborhoods, please visit the company's website at www.mbkhomes.com.